Indian equity benchmarks Sensex and Nifty ended higher Thursday led by broad-based gains. The Sensex surged 514.33 points, or 0.90 percent, to close at 57,852.54, while the Nifty ended 157.90 points, 0.92 percent, higher at 17,234.15.
Broader markets outperformed the frontliners as the midcap and smallcap indices jumped 1 percent each.
Among sectors, a strong rally was seen in IT, FMCG, pharma, realty and metal indices, while Nifty PSU Bank and Nifty Auto indices ended in the red.
"Markets regained momentum after a minor pause in yesterday’s session and closed higher by nearly a percent. We’re seeing buying on every dip across sectors which shows that the bulls are in control. Besides the supportive global cues, the recent positives from the domestic front viz. the pace of the vaccination drive and further reopening by the states are fuelling the momentum," said Ajit Mishra, VP - Research, Religare Broking.
"We’re now eyeing 17,500 in Nifty. Amid all, we reiterate our positive yet cautious stance and suggest focusing on accumulating quality stocks on dips," he added.
Here are key stocks that moved most today:
The share price of Reliance Industries Ltd (RIL) scaled above the Rs 2,300 level for the first time since October 2020. The stock made an intraday high of Rs 2,307.00 apiece on the BSE, rising as much as 1.6 percent commanding a market cap of almost 14.6 lakh crore. The stock ended 1.05 ppercent higher at Rs 2,293.65.
Vodafone Idea shares ended 17.24 percent higher at Rs 7.14 apiece on reports of the government mulling relief measures for the sector.
Glenmark Life Sciences’ share price declined 3.58 percent to end at Rs 670.85 as the 30-day lock-in period for the company’s anchor investors ended. The stock is below the IPO issue price of Rs 720.
Vedanta share price rose 2.58 percent to Rs 305.65 after the oil-to-metals conglomerate's board gave nod to the first interim dividend for the current financial year. Vedanta said its board in a meeting earlier in the day approved the interim dividend of Rs 18.50 per equity share for FY22.
Mahindra and Mahindra
Mahindra and Mahindra (M&M) share price slipped 2.29 percent to close at Rs 752.50 after it announced ‘No Production Days’ in its automotive division plants in September 2021 which is estimated to result in a reduction in Production volumes of the division by 20-25 percent.
HDFC Life Insurance Company
HDFC Life Insurance Company share price closed with a gain of 5.46 ahead of the board meeting to consider fundraising.
The shares of Kitex Garments closed at 10 percent upper circuit of Rs 164.10 on BSE after Telegana government approved its expansion plan.
BLS International Services
BLS International Services share price ended 7.21 percent higher at Rs 129.20 apiece after the company signed a contract with The Republic of Philippines to provide ePassport renewal services on behalf of The Republic of Philippines in Italy, Qatar and Malaysia. The stock price touched a 52-week high of Rs 233.30 intraday.